A Sting Exclusive: “Sustainable development goals: what role for business?” Commissioner Mimica asks live from European Business Summit 2015

Written by Neven Mimica, Commissioner for International Cooperation & Development

Press conference by Neven Mimica, Members of the EC, on increasing the financial support for Nepal following the earthquake (EC audiovisual Services, 04/05/2015)

Press conference by Neven Mimica, Member of the EC, on increasing the financial support for Nepal following the earthquake (EC audiovisual Services, 04/05/2015)

In the next few months, the international community will take important decisions that will have a profound impact on how international cooperation and development will be pursued in the years and decades to come. Three major international events will determine the level of ambition and the degree of shared responsibility for our common future in the post-2015 period – the third international conference on financing for development in Addis Ababa in July, the United Nations summit on the new sustainable development goals in New York in September, and the United Nations climate change conference in Paris in December.

One of the key challenges in these inter-linked processes is to ensure that the globalised economy does not leave behind the most vulnerable, the people who are trapped in poverty and conflict. We must do everything possible to promote shared prosperity, eradicate all forms of inequality and ensure respect for human rights everywhere. New opportunities and threats will have to be detected and managed. Changing economic realities may result in significant changes in development cooperation patterns. The way that we formulate policy and do business together will also surely change, as increasingly sophisticated communication tools offer new opportunities for the involvement of all.

The European Commission has called for an ambitious and comprehensive agenda that helps the world to respond to the full range of challenges that we face, including structural economic transformation, sustainable management of natural resources, climate change, sustainable consumption and production, and peaceful societies and governance. While making sure that the benefits of global progress are shared more widely and more evenly than they are today and that countries and societies can increasingly rely on their own resources, we must also ensure that those most in need will continue to have access to assistance.

A strong global partnership, based on shared responsibility, mutual accountability and respective capacity, is essential. This will also enable us to overcome the weaknesses of the traditional donor-recipient relationship. Developing countries want to take responsibility themselves – rightly so. We should respect and encourage this. Successful development cooperation in the future must build on assisting partner countries to develop their own strengths, using their own efforts and their own resources, while focussing our continuous support to those most in need. At the same time, this will allow us to move away from project-centred cooperation to cooperation focused on building the necessary framework for developing countries to achieve sustainable and inclusive growth.

Partnership involves not just governments but also a wide range of other actors in international development policy, including the many civil society and non-governmental organisations that provide invaluable support to ensuring that needs are addressed and in keeping the progress of the international community in check. A true multi-stakeholder partnership is needed, with the active engagement of the private sector, civil society, parliaments and local authorities. Strengthening partnerships between these different parties with often different agendas is one of our greatest challenges, but it is one that must be overcome to make development cooperation more targeted, flexible and effective.

The role of the business community is of crucial importance to development cooperation in the coming years. The private sector is the key engine that powers the economic growth that is essential in developing countries. It provides some 90 % of jobs in those countries and makes essential investments in sustainable agriculture and sustainable energy. It also holds the key for innovations towards an inclusive green economy. The role of lead firms is crucial, not only in terms of where they invest or from where they source their materials and services, but also in terms of how these global industries operate and, in particular, according to which standards and rules. The importance of developing countries in these global value chains is increasing, and the future development of these relationships is crucial to fostering growth in these countries and providing their citizens with livelihoods that meet their expectations.

The way in which companies operate makes a huge difference. Are they capable of assessing risks and mitigating the possible impacts of their actions? How do they handle impacts on human rights, labour or the environment? And how do they implement business models that enhance development objectives? These are among the questions to ask if we are to speak about responsible trade and investment.

In the inter-connected, globalised economy, we have to acknowledge that development cooperation policies cannot be addressed in isolation. They need to be increasingly viewed in combination with the range of other policy areas that have an impact on developing countries – and that can also help provide the solutions. The EU Treaty requires the Union to take account of the objectives of development cooperation in the policies that are likely to affect developing countries. Trade is one of these areas. We need to monitor the impact of our policies in areas such as trade, environment, climate, energy, fisheries, migration, science and research. The key challenge is to create synergies between development objectives and the objectives of these other policies that have an external dimension, so as to achieve increased effectiveness.

At the international level, I will continue to keep these objectives at the forefront of the discussions with our international partners in both developing and developed countries. We rely on the engagement of the business community to help integrate developing countries into a new global framework.

This year’s European Business Summit is an opportunity to underline that commitment.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

A Sting Exclusive: “Our ambition is by 2020 Indonesia to become an emerging power of World’s Maritime Access”, reveals the Chargé d’Affaires at the Embassy of Indonesia in Brussels, treating WEF, ASEAN and EU-Indonesia relations on the eve of the World Economic Forum East Asia 2015 in Jakarta

Meet the Junior Enterprise network at JEWC 2014!

EU revengefully shows no mercy to Cameron by demanding a fast and sloppy Brexit now

Brussels to tear down the trade wall with Mexico as opposed to Trump’s “walls”

Commission’s Youth Initiative fails first hurdle by not sufficiently consulting young people

The EU threatens to occupy Libya militarily; is another colonial war brewing?

The quality of health education around the globe

Changing the EU copyright law won’t bring us much closer to Digital Single Market

Italy’s dilemma after Merkel-Hollande agreed loose banking union

Is Erdogan ready to tear down the bridges with Europe and the West?

Forget about growth without a level playing field for all SMEs

My ‘’cultural’’ contacts with China

Turkey presents a new strategy for EU accession but foreign policy could be the lucky card

The global issue of migration in 2017

When is Berlin telling the truth about the EU banking union?

ECB again to subsidize euro area banks with more than one trillion euro

German heavy artillery against Brussels and Paris

COP21 Breaking News_08 December: Global Business Community Comes to Paris with Solutions for Taking On the Climate Challenge Across the Board

Britain heading to national schism on exit from EU

Eurozone: Economic sentiment-business climate to collapse without support from exports

Germany rules the banking industry of Eurozone

Modern humanitarian aid at times of global crises

EU’s Finance Ministers draft plan to raise tax bills of online giants like Google and Amazon

The vicious cycle of poverty and exclusion spreads fast engulfing more children

Are ECB’s €500 billion enough to revive Eurozone? Will the banks pass it to the real economy?

‘Internal security’ or how to compromise citizens’ rights and also make huge profits

Predicting two more years of economic stagnation

EU to give more power to national antitrust authorities in a bid to secure regulatory fines

Dreaming of China

Drowning in the Mediterranean this summer? Many happy returns

Europe votes against GMOs but the Council votes for TTIP

Eurozone cannot endure any longer youth marginalisation

The EU lets the bankers go on rigging the benchmarks

The West and Russia impose a new order on the world

Switzerland to introduce strict restrictions on executive pay

How China Mended My Heart

Memoirs from a unique trip to China: “my new old dragon” (Part II)

Google and Apple suddenly realise that doing business in EU is tough?

Bureaucracy in the member states again the obstacle for long due strong European Hedge Funds

The West and Russia accomplished the dismembering and the economic destruction of Ukraine

COP21 Business update: Companies urge now for carbon pricing as coal is still a big issue

An Easter Special: Social protection of migrants in Europe as seen through the eyes of European youth

45th Anniversary of the French Confederation (Confédération Nationale des Junior Entreprises)

The fatal consequences of troika’s blind austerity policy

Utmost hypocrisy emitted by EU’s energy regulation

EU Commission retracts on the Chinese solar panel case

“Private” sea freight indexes hide Libor like skeletons?

Close to final agreement on the EU Banking Union

France pushes UK to stay and Germany to pay

Ship Recycling is the Commission’s Titanic

“These Romans are crazy”, the “Greek Gauls” will be shouting today in Brussels hoping Caesar backs off

European Business Summit 2014: Sting Report, Day I

Biggest London City Banks ready to move core European operations to Frankfurt or Dublin?

The European Youth Forum needs better signal for its “call” for Quality Internships

Can Greece’s devastating economy deal with the migration crisis?

The EU Spring Summit set to challenge austerity

18th European Forum on Eco-innovation live from Barcelona: What’s next for eco-labelling?

GREXIT final wrap-up: nobody believed Aesop’s boy who cried wolf so many times

How close is Eurozone to a new recession which may trigger formidable developments?

A Sting Exclusive: “Digital and mobile technologies are helping to achieve an economic success in Spain”, the Spanish Secretary of State for Telecommunications and Information Society Víctor Calvo-Sotelo reveals to the Sting at Mobile World Congress 2015

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s